Iran’s Oil Minister Resigns Amid Economic Struggles
Iran’s Oil Minister Mohsen Paknejad has stepped down from his position, marking a notable shift in the country’s leadership amid ongoing economic pressures. Hamid Bovard, the CEO of the National Iranian Oil Company, has been appointed as acting minister following Paknejad’s resignation, according to state media reports on Sunday.
Paknejad, who has served as Iran’s oil minister since August 2024, did not provide a specific reason for his departure. His resignation comes as the country faces significant economic strain due to the seven-month war between Iran and the US.
Prior to his resignation, Paknejad had reassured that oil revenues were still being received and would continue, as reported by state media. The transition of power was confirmed by an official at the president’s office, citing President Pezeshkian’s acceptance of Paknejad’s resignation.